Bullish is a KY-based company operating in Capital Markets industry. The company is headquartered in George Town, Grand Cayman and currently employs 400 full-time employees. The company went IPO on 2025-08-13. Bullish is an institutionally focused global digital asset platform focused on providing market infrastructure and information services. The firm is focused on providing products and services that are designed to help institutions grow their businesses, empower individual investors, and drive the adoption of stablecoins, digital assets, and blockchain technology. The company operates two primary business lines: media and events. Its media business delivers news and information on the digital assets industry. Its media business operates through CoinDesk.com. Its events business gathers the global digital asset, blockchain, and Web3 communities at annual events, such as Consensus. The company provides trusted insights, authoritative news, data, indices and transparent analysis to the digital assets industry while facilitating partnerships, investment opportunities, and community engagement through its flagship Consensus conference. The firm offers its services under the Bullish and CoinDesk brands.
Financials in millions USD. Fiscal year is February - January.
Breakdown
TTM
12/31/2025
09/30/2025
06/30/2025
03/31/2025
12/31/2024
Revenue
244,811
64,345
41,599
58,630
80,236
--
Revenue Growth (YoY)
--
--
--
--
0%
--
Cost of Revenue
244,733
64,323
41,584
58,615
80,209
--
Gross Profit
78
21
14
15
26
--
Selling, General & Admin
138
35
33
32
37
--
Research & Development
--
--
--
--
--
--
Operating Expenses
237
156
-8
-36
126
--
Other Non Operating Income (Expenses)
158
56
50
32
20
--
Pretax Income
-786
-565
18
109
-348
--
Income Tax Expense
0
-1
0
0
0
--
Net Income
-764
-546
18
107
-343
--
Net Income Growth
--
--
--
--
-433%
--
Shares Outstanding (Diluted)
151.17
151.17
133.06
148.91
148.92
--
Shares Change (YoY)
--
--
--
--
0%
--
EPS (Diluted)
-5.06
-3.61
0.13
0.72
-2.31
--
EPS Growth
--
--
--
--
-430%
--
Free Cash Flow
-23
53
-48
16
-45
26
Free Cash Flow Per Share
--
--
--
--
--
--
Gross Margin
0.03%
0.03%
0.03%
0.02%
0.03%
--
Operating Margin
-0.06%
-0.2%
0.05%
0.08%
-0.12%
--
Profit Margin
-0.31%
-0.84%
0.04%
0.18%
-0.42%
--
Free Cash Flow Margin
0%
0.08%
-0.11%
0.02%
-0.05%
--
EBITDA
-151
-134
23
54
-97
--
EBITDA Margin
-0.06%
-0.2%
0.05%
0.09%
-0.12%
--
D&A For EBITDA
8
0
1
2
2
6
EBIT
-159
-134
22
52
-99
--
EBIT Margin
-0.06%
-0.2%
0.05%
0.08%
-0.12%
--
Effective Tax Rate
0%
0.17%
0%
0%
0%
--
Follow-Up Questions
What are Bullish's key financial statements?
According to the latest financial statement (Form-10K), Bullish has a total asset of $0, Net loss of $0
What are the key financial ratios for BLSH?
Bullish's Current ratio is 0, has a Net margin is 0, sales per share of $0.
How is Bullish's revenue broken down by segment or geography?
Bullish largest revenue segment is On the Exchange, at a revenue of 244,414,963,000 in the most earnings release.For geography, Rest of the World is the primary market for Bullish, at a revenue of 90,018,294,000.
Is Bullish profitable?
no, according to the latest financial statements, Bullish has a net loss of $0